Hartford Funds Management Co LLC Raises Position in Workday, Inc. (NASDAQ:WDAY)

Hartford Funds Management Co LLC grew its position in Workday, Inc. (NASDAQ:WDAY) by 9.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,149 shares of the software maker’s stock after purchasing an additional 181 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Workday were worth $525,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. ORG Partners LLC raised its holdings in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP purchased a new position in Workday in the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd raised its holdings in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after buying an additional 7,802 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WDAY. Morgan Stanley decreased their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Barclays boosted their price objective on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. The Goldman Sachs Group boosted their price objective on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Loop Capital boosted their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Bank of America boosted their price objective on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $289.46.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $267.75 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a fifty day moving average price of $247.71 and a 200 day moving average price of $236.98. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market cap of $70.95 billion, a price-to-earnings ratio of 46.65, a P/E/G ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Workday’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by insiders.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.